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WHUT (Howard University Television) 1
English 10
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FOX Business
Jan 24, 2013 8:00pm EST
of the year. now this extension of the debt ceiling free or four months. the economy cannot withstand at this point. >> well, that is one of the biggest problems. >> definitely not optimal. cheryl: exactly. you're right. what do you say? >> it is one of the biggest problems we have had in the economy, investors like certainty. they want to know what their tax rate will be, what their credit rating agencies are going to do. delicate washington and scratch their heads because they're not getting much certainty. the only certainty they have gotten is the fact that their taxes are going up astronomically. and a lot of business people across the country are hoping that would be coupled with a lot of spending restraint so that we would not give further downgraded by the credit rating agencies and that we could actually get ourselves on a glide path toward a balanced budget. you have to give paul ryan a lot of credit. both of your guests are doing that by saying he is at least putting a plan out. harry reid is not put a plan out for four years. talk about breaking the regular budget order, i
Jan 24, 2013 7:00pm EST
to imagine -- we talked earlier about the fiscal cliff and debt ceiling. it is clear there is legislative gridlock in this town. what happens in the months to come with this kind of gridlock -- we already see the battle lines being drawn about what is to happen when these entitlements did on the table with in march. what happens to the poor as you see it in the coming months? >> let me first say, thank you so much for allow me to be part of this conversation. i am happy that you have been carrying on this kind of conversation over the last few years. let me try and see if i can put something in context for you -- i think that is something we never really talk about. a lot of this fiscal cliff stuff is really smoke and mirrors -- when you sit back and realize the largest portion of the debt of this country is really three things -- one is two wars we never paid for, what is a medicare part that we never paid for, and the other part is the bush tax cuts. those of the largest portions of the debt of this nation. what they're trying to do now by cutting what you call entitlements and i call a
Jan 25, 2013 6:30pm EST
on a tear? economists telling us the election is over, the fiscal cliff crisis over, the debt ceiling battle pushed off. congress hearing the frustration now that we've been hearing on the trading floor for months. >> people in the city and outside the industry are just frustrated. >> reporter: frustrate bauds that gridlock put a lock on the stock market too. but tonight, finally what appears to be a solid recovery. >> worst case scenario that people were looking at in 2008, they can start to say, all right, we're not going to go there. >> reporter: couples like john and jeanette who you first met to "world news" two years ago. john had turned 60, jeanette about to. he was planning to work another five years because of the market. their retirement dreams had grown simpler since that wedding day. their only trips, to visit their granddaughter. how much has your 401(k) recovered since we last visited? >> it's gone up about 30%. >> about 26 osh $27,000. >> reporter: their 401(k) growing again along with that granddaughter. is it giving you a little more freedom? >> yes, it's given us quite a bi
Jan 25, 2013 3:00pm EST
further and then we'll see in three months' time what we discuss and how we deal with the debt ceiling, that's not especially helpful. that's what actually a lot of u.s. leaders complained about with the europeans about a year ago. they were saying oh, you know just pushing the can down the road yet again. well, sure. >> i guess the whole issue of do you provide stimulus to a weak and anemic story or do you cut back in a time that things are really not growing so adding austerity to an already weak story? >> what is needed is confidence. and you need to restore confidence in the way an economy is run. so things will vary depending on the strength of the currency, depending on the financing needs, the financing situation of the country and for some countries austerity, strong right from the start, is needed. when, you know, the situation of finance -- when the financing is under huge pressure. as has been the case with some european countries. in other situations, where there is a degree of confidence where markets know that the governments are serious about what they're doing, the pace
Jan 25, 2013 6:00am EST
with the debt ceiling. so the sequester is the next thing that republicans -- >> yes, sequester and the budget. and, i don't know what richard things, but my view was -- >> hasn't been a budget in four years -- >> there has been a budget. not a stand-alone budget. they just keep continuing the budget that already exists. >> is that a problem? >> it can be a problem. >> how do you -- >> i think it was -- i blame partisanship in washington. i don't think that's any one person's fault by any means. i think not making the fight about the debt ceiling, which has the unfortunate downside that if you mess it up, the u.s. government defaults, and it's a financial catastrophe, this was a sign of maturity. i think on the republicans' part that let's make it about the budget. so the budget is now going to come to so-called continuing resolution. they're going to have to have a fight about a government shutdown. this is what they should be arguing about. what does the government spend money on? what should it spend money on? how much revenue should be coming in? let's make the argument about that, not abo
Jan 25, 2013 7:00am EST
, in trying to devise a tactical maneuver to get the debt ceiling moved back and to able to deal with sequester. he will have a tough decision in a few months. there's pressure on him in arkansas to run for senate in 2014 against price yoryor, a vulnerable democrats. to run for the senate right after you got into the house, it's a little fast. he may be able to accomplish more. he is a rising star in the party. there have been others as well. there are people thinking of running and some ran and lost the first time. that part about the republican future i'm very encouraged by, the younger candidates. we can find a lot more if we put in a little more effort. i think it's time for generational change in the republican party. it is a party that's conservative. at least at the presidential level we keep nominating the next in line guy, a 65-year-old guy who ran last time but did not quite make it and gets nominated. they are impressive individuals, but it's a kind of pattern of dole and mccain and it's tough to compete with barack obama. that has been true somewhat at the state level
Jan 25, 2013 6:00am EST
, the impact is going to be bad, and it could be dramatically bad depending on what happens in three months. i don't agree with mr. gingrich on many fiscal issues, but i think on this one he's right. take the debt ceiling off the table permanently. investors around the world are watching this hearing. they're looking at your words, they're trying to understand what does prioritization mean, how does this not involve default? the degree of uncertainty that is being multiplied by this conversation is extraordinary. the impact on municipalities is going to be tough. they will face higher borrowing costs to extent that risk premiums rise around the united states and the world, and that means either they've got to fire people, or they're going to raise property taxes or face other problems. so this is a very bad route to go down. >> i have great respect for dr. boustany, but we are talking about default. whether we're talking about immediate default or default three months from now, that is a policy issue. mr. hoagland, you also talked about bringing balance to that issue. i thought that was an exc
Jan 25, 2013 2:00pm EST
will increase the debt ceiling with almost nothing to show for it. part of the reasons why the house republicans this week, extended the debt cerealing for three months to feel out paul ryan and his team to draft a budget that gets us balanced in 10 years but also protects the department of defense from further cuts because they have already been cut by $500 billion. >> do you get the idea, do you get the sense that americans are tired of world business. that doing some business here at home is gaining traction with people. are they world leadership weary? is the american hour ticking to a close? >> i think there is a degree of war weariness among the american people. it is not surprising. when your commander in chief is war weary you will be as well. when i was leading troops in baghdad, if i were weary and then my privates who were manning my guns they wouldn't want to go throughout either. the president was making the case why we were in afghanistan and we weren't winning. american people look for victory strategies and they did not see a path of victories in 2005. now think don't see a victo
Search Results 0 to 9 of about 10 (some duplicates have been removed)